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of america's biggest cities and it's about to come ashore. conditions are getting worse by the hour. at least 23 states are now under warnings or advisories because of the storm's winds. damage could hit $10 billion or even a lot more. some states could see their worst flooding in a century. and in the appalachian mountains, they're expecting blizzard conditions. i'm wolf blitzer. you're in "the situation room." >>> hurricane sandy is a monster storm, even though its center is still out to sea. tropical storm and hurricane force winds extend, get this now, for 1,000 miles. right now, damaging winds are blowing from southern new england across long island, new jersey, delaware and virginia. we have the full resources of cnn deployed on the story including crews up and down the atlantic coast as well as in cities that aren't used to this kind of a disaster. here's what the storm looked like this afternoon when the international space station flew over. you can clearly see the eye of the storm. right now, the center is closing in on southern new jersey. let's begin our coverage with our meteorol
north of cape may, atlantic city. but i just don't want you to focus on those cities. does it make that turn left in time? it didn't going left right now, and sometimes they wait. sometimes computers aren't perfe perfect, and why aren't they perfect? the atlantic ocean is a fast space, we don't have weather balloons out there. we have drop sons out of noaa weather radio. here it is, category 1, about an 80-mile-per-hour storm, right now as it makes landfall tomorrow night. and if there's any change to the forecast at all, i would say that's a little bit faster. the numbers bring in landfall the eye, but don't focus on 8:00, because a lot of the storm will be onshore, half of it will be onshore, even before the eye gets there, wherever it gets. you have to understand that things are going to start to go bad from here. this is how good it's going to get for the next 36 hours. no matter where with we are in here, this sides of it is so dangerous because the wins are coming in here. on up here into period of time. all the way here into tom's river and all of this has wind this way, the
. it's not all about today's rally and not all about markets. wall street preparing for citi's conference call coming up at 4:30 p.m. eastern time, 30 minutes away, after the shocking resignation today of ceo vikram pandit. you can hear that call straight away live coming up in a few minutes. we'll take you on that call. kayla is here first with this evolving story. over to you, kayla. >> thanks, maria. we have -- i want to run through what we know so far right now. let's think about this turn of events for citigroup and how this came about. we know from sources that the board has been ramping up this search for the last several weeks. we don't know exactly the catalyst for that, but they did start planning for succession back in august. now, as far as what we know, maria, vikram pandit told you that he gave a call to citi board chairman mike o'neill after the earnings call yesterday to discuss the fact that he was ready go. now, in the wake of that period of time, we don't exactly know what happened during those last few hours. we know that mike o'neill did call several memb
by longtime citi executive michael corbat. he most recently headed the bank's middle eastern and european division. pandit not only gave up his c.e.o. position, but he also quit the board of directors. the news comes in the heart of earnings season for financial firms and just one day after citi reported stronger than expected earnings. shares of citi climbed 1.6%, closing at their highest price since march. suzanne pratt takes a closer look at pandit's tumultuous tenure. >> reporter: the citi management skeup had many people on wall street scratching their heads today about the timing. not only is the big bank finally regaining its footing, but there were no hints about the boardroom shuffle during vikram pandit's conference call yesterday on earnings. but 24 hours later, citi's new c.e.o. michael corbat and citi chairman michael o'neill hosted a call of their own and explained what happened. so to be clear, today's changes do not reflect any desire to alter this strategic direction of city. >> o'neill and pandit have reportedly clashed on >> reporter: o'neill and pandit have reportedly
.e.o., vikram pandit, calls it quits. from pandit's legacy to challenges facing citi's new boss, the resignation is one of the biggest surprises on wall street this year. >> susie: i'm susie gharib. two tech titans report better- than-expected earnings-- intel and i.b.m.-- but both stocks fall in after-hours trading. we run down the numbers. >> tom: also, student loan servicers get an "f" from regulators complaining school loans are handled a lot like the subprime mortgage market. >> susie: that and more tonight on "n.b.r." >> tom: citigroup c.e.o. vikram pandit abruptly stepped down today in a management shakeup that stunned both investors and employees. he will be replaced by longtime citi executive michael corbat. he most recently headed the bank's middle eastern and european division. pandit not only gave up his c.e.o. position, but he also quit the board of directors. the news comes in the heart of earnings season for financial firms and just one day after citi reported stronger than expected earnings. shares of citi climbed 1.6%, closing at their highest price since march. suzanne pratt ta
previously served as citigroup of europe. the changes come one day after citi's earnings beat expectation in a conference call which, of course, jim said absolutely nothing about this. >> no. this was the first quarter that was the break out quarter for international. first time that i felt that the company had put a lot of its problems behind it. best knit interest margin. we only had a couple of banks report. people are trying to present this this was logical, this was in the works. this was the least logical, least in the works. corbat terrific. he ran holdings. 48 hours did we know this? i don't know. i got to tell you that the people that i talked to at citi, to say not in the works is being underplayed. >> there's shock at least among a handful of people who i talk to regularly at senior who are senior but no way aware of this. they are shocked. they heard it about an hour prior to the announcement being put out there. and, you know, it seems as though we don't know at this point, although we listen eed t andrew ross sorkin's report right now. there was some contention between board
." and good evening, everyone. i'm erin burnett. "outfront" tonight, i am live in new york city. a part of the city that has been evacuated. new york city is under siege right now from sandy -- a little hard here, even to talk, as you can tell. let's get to chad myers in atlanta. i know it's been downgraded, but right here, it feels like it's stronger by the -- >> it's just a different name. it's not so much that it got downgraded. it is just no longer tropical in nature, which means it's colder than it is warmer. and you will feel that. you will feel that cold air wrap in. we've had reports of sleet all over the eastern united states today as that cold air has been wrapping in. the wind blowing down and the rain drops on the way down to the ground turning into small, little sleet pellets. the reason why you are getting more wind right now is because the wind field is coming around to you, blowing that water into the battery. this is going to be an issue for you, it's right where you are at battery park city will begin to flood. at least another couple of feet from where you are now bec
no golden parachutes or severance upon termination of employment. outside of citi's broad base separation plans or local law. any equity awards not accelerated upon termination. one benefit we're told of this timing, every's surprised that this came out the day after such a sole lid quarter. and especially when you could have waited until the end of the year. p but one theory behind this is citi will have to go through the stress tests again at the beginning of next year. if you come in january 2013, you're a fresh face on that field and hard to put togetherc. >> a banking source i spoke to said perhaps the board was waiting for its first glimpse of d day white. then giving the kind of cover that it needed to make the move. then giving the kind of cover that it needed to make the move. obviously citi and government have worked out some prices. sue, down to you. >> let's talk more about what's going on at citi and where the bank goes from here lacking forward with me now. first of all, your reaction. i think i heard some of maria's reporting. do you buy the fact that it has been planned fo
and other big cities. early this morning president obama has signed emergency declarations for connecticut, pennsylvania and rhode island, clearing the way for help from fema. let's get right to bill karins who has the latest forecast. what do you have? >> the storm has strengthened instead of 75 so that's very impressive that this storm continues to lower its pressure, even going over the cooler waters now and it's only about 386 miles away from new york city. it's actually moving at a pretty decent clip at 15 miles per hour so it's going to move in in a hurry. a lot of people are waking up looking outside. maybe it's not raining where you are and not that breezy as when you went to bed, but, trust me, it's on its way and the power will go out in a hurry for millions of people especially southern new england all the way down through jersey, pennsylvania, maryland and delaware. the center of the storm, a pretty well-defined eye. pin needle of an eye and the hurricane hunters have been flying in and out of the storm getting a bearing on how wide the wind field s the intense winds are maybe
york city, the subway system could be closed for days because of historic flooding. our correspondents are on the ground across the east covering the impact of superstorm sandy. >>> we begin our coverage in hard-hit new york city. president obama has just declared a state of emergency in new york and new jersey. jim axelrod is at battery park in manhattan, which was inundated with water. jim, good morning. >> reporter: good morning, charlie. high tide has come here. at least in this part of battery park, the water is not threatening to come over the wall, which is at least one piece of good news in a city that is facing more than its share of trouble. superstorm sandy made landfall late monday. a wet and windy nightmare. >> we knew that this was going to be a very dangerous storm and the storm has met our expectations. >> reporter: actually, sandy exceeded them. around 9:00 pm the storm produced a record surge at battery park in manhattan, 14.88 feet breaching the sea wall and flooding the area. manhattan's waterfront seemed to disappear as the surge
by in battery park city in lower new york city. erin? >> out front next, a deadly night. 11 people now dead in five states, thanks to hurricane sandy and flooding continues an the east coast. incredible flooding, over a 1,000-mile area. here in manhattan where we already posted records on that front, a crane is dangling from a skyscraper in midtown and it could drop at any time. the latest as we continue to track storm sandy. track storm sandy. let's go out front. -- captions by vitac -- www.vitac.com >>> good evening, everyone. i'm erin burnett "outfront" tonight. i want to welcome our viewers from around the world who are watching this storm that we've been watching over 1,000 mile area here on the east coast of the united states. affecting about 20% of the united states population. flooding has been the big issue. where i'm standing right now, those of you who are watching the earlier, know the water was up above my knee. we set a record here in lower manhattan, in terms of a storm surge. the record is 13.88 feet, exceeding by almost three feet the record set back in 1960 with hurricane
of the damage. >> we still have severe flooding in the city of hoboken, probably half our city is flooded. we have about 20,000 people that still remain in their homes and we're trying to put together an evacuation plan, get the equipment here. we can't get down so many city streets and really concerned about the residents stranded in their homes right now. >> meanwhile the northern part of hoboken, here you see an incredible photograph of a parking lot full of submerged taxis. the storm surge forced floodwaters into the station that connects hoboken to new york city. officials say it could be at least 7 to 10 days before service will be restored there. we'll have a live report from hoboken a little later in the show. meanwhile miles of the eastern seaboard particularly along the jersey shore look completely unrecognizable this morning as these breath taki king aerial pictures show us. today president obama is scheduled to arrive in atlantic city to survey the damage alongside governor chris christie. the governor who yesterday praised the president's handling of the disaster said he will ask
strengthening as we go through time. about 380 miles south of new york city it's movement has picked up northerly about 15 miles an hour and we still expect that turn toward the west later on. this is huge. reading some technical stuff, the tropical storm force winds, diameter nearly 800 miles wide. that is huge. the second largest tropical system we've seen in the last few decades. hurricane force winds extend 150 miles out. the amount of damaging winds is about 350 to 400 miles wide. so, that's wind of over 55 miles an hour. that is a huge swath of real estate that will be impacted by damaging winds when this thing makes its way onshore. here's the latest forecast track from the national hurricane center. hopefully our graphics are updated here. it hasn't changed a whole lot. the only thing that's changed is it may come on as slightly stronger hurricane or post-tropical storm strength hurricane meaning right now we're getting into the colder air. that temperature contrast and jet stream because of that temperature contrast will add more fuel to the fire here in the next 12 to 18 howar
, pandit, and havens all founded the hedge fund they sold to citi for $8 million. pandit pocketed just about $80 million of that price tag. so definitely a very multifaceted story. we should get more in just the next hour. >> you would think so. let's get some reaction now from some respected analysts. mike mayo, bank analyst. he's also the author of "exile on wall street." our friend rob cox, the america's editor at reuters breaking views. michael, what do you make of the breathtaking events over the last 24 hours? >> i think the ceo transition is ludicrous. to have the ceo and c.o.o. step down at the same time with zero transition and to have this change one day after they report earnings. just yesterday i was asking vikram pandit questions. we were all asking him questions about the long-term strategy. one day later, he's out the door. something's not right. i think this poor transition of the ceo is a microcosm of the poor corporate governance at citigroup under the vikram pandit reign. >> mike, i want to ask you what you think is going on here, but let me get anton in first. you'r
have these live pictures here, atlantic city, these are tape pictures, but you can see, look at the water here. some cars moving. atlantic city. we've been looking into atlantic counties, specifically, something like five feet of water on some of these roads and, folks, it will get worse. right now we know of at least 116,000 homes without power. those numbers will obviously change. but i just want to hit home this point, that everything about sandy is huge. you see the system. this is on your screen here. the wind field, this is something we'll talk to chad about, the wind field roughly 900 miles wide, 60 million people all the way from north carolina to maine could be affected by this hurricane. about 61,000 national guard troops have been deployed. the president making the point that a lot of the resources, as best as they can, have been prepositioned in anticipation of this storm. $87 billion worth of homes reportedly at risk. and in manhattan, the new york stock exchange closed today and we know it will be closed tomorrow. also shut down, amtrak, subways in new york, was
of the month when traders prays their portfolios. meantime, new york city mayor is set to hold a news conference on sandy 45 minutes from now. we will go to that conference once the mayor begins his remarks. we'll hear from a number of ceos about how sandy has impacted their businesses. the heads of hartford financial and landry is among the top executives who will be joining us over the last few hours. how equity index futures are trading. will cease trading in 15 minutes time. the dow and nasdaq pointing d n down. as for europe, the action dominated by deutsche bank and bp. we do see green arrows across the board with a 1% gain in germany. >> at least 16 deaths blamed on sandy as the storm continues to wreak havoc on the northeast with new york and new jersey dechaired major disasters. overnight more than 200 patients have been evacuated from two nyu langone hospitals after backup power failed. millions on the east coast awoke without power or mass transit. an estimated 7.8 million are believed to be without power and experts say it could be several days before it is restored. mass
" on msnbc. >>> a 21-year-old man is being held on charges of blotting to blow up the new york city headquarters of the federal reserve. now, prosecutors say he was inspired by osama bin laden and that he tried to recruit others from across the country. not realizing those recruits were undercover agents. wnbc's jonathan dientz has details. >> reporter: this is the face of quazi nafis and this was his alleged target, the federal reserve bank. he was arrested after he allegedly parked a van packed with what he thought was a thousand pounds of explosives trying to kill hundreds of innocent new yorkers during the morning rush. >> clearly had the intent of creating mayhem here. >> reporter: it was a sting operation and nafis was under intense surveillance for months by the agencies. the undercovers even provided some of the fake bomb parts. but they say it was nafis who picked his target, helped build the bomb and they only got on to him after he approached an informant about wanting to carry out a major attack. targeting america's economy is the most efficient way to draw the math of o
of which including the mutual housing association of new york here in new york city are getting taxpayer dollars. yet we don't know if they're actually doing anything with that money. john: its new groups. not the same thing. >> the same directors, the same tax i.d. numbers, the same employee edification numbers. in many cases the same employees >> congress cuts them off and they just change names. >> i can tell you that when i were to the house oversight committee as an investigator we went to the inspector general's office, and an auditor told the committee staff when we found direct evidence of acorn housing misusing federal grant money, the auditor said, look, is $10 million. a $10 million grant. when you're dealing with that little amount of money we don't actually conducted on. as the state of affairs. john: but these are poverty workers. i assume most of them are helping people. there are a few bad apples. but so what if it's the same people. there were not all trying to help the fake punt break the law . >> these organizations are about politics, and that is white special concern
city, included. new york city, included. long island, as well. and then, we've got that rainfall because you heard a lot about it. at best, locally, some places could top out at a foot or more after this is all said and done. you see the heart of it, at 6 to 12 inches. and it extends back into the eastern great lakes, where you get anywhere from three, four, or even five inches of rain when this is all said and done. so, flooding is going to be a problem. coastal flooding a major issue. and there's snow. i'll have more on that coming up in a couple of minutes. for now, we'll go back to the studio. >> all right, ginger. we'll see you in a few minutes. thank you. >>> meantime, this extremely dangerous superstorm has the potential to shut down new york and other big cities up and down the east coast. emergency officials are scrambling to make sure preparations are in place. and abc's john schriffen has that part of the story from lower manhattan. good morning, john. >> reporter: good morning. we are here in battery park city, in what's now being called zone "a." 375,000 residents ar
than permission. >>> and 5:30 a.m. here in new york city. a beast of a storm rumbling up the east coast right now effectively bringing life to a stand still. good morning. i'm willie geist. this is "way too early." hurricane sandy, a massive category 1 storm on a collision course with two other storms. expected to hook west of it taking aim at the northeast coast leaving tense of millions of people hours to prepare. the entire new york city transit system is shut down. schools closed along with those in baltimore, boston, washington, d.c. thousands have canceled flights and commuter trains going nowhere. there's eight days until the presidential election. president obama and mitt romney being forced to change plans as the storm approaches. more on that in just a moment. first, lets ae go right to bill karins for the very latest on this hurricane. bill . >>> good morning to you, willie. new update from the national hurricane center. there was zero good news spread by them. the storm has increased in intensity a little bit. now we're looking at possibly 80 to 90 mile per hour landfa
the major blowout at the top of citi group? stocks are burning hot the so is a city near. vikram pandit pushed out. the street send its approval and of the shares are back into the green. vikram pandit said he was resigning but charlie gasparino says he was ousted vikram pandit has said he is facing pressure from the board. to said there was no way this was his decision? coming up we have sheila bair live praising the city grew bored but we will ask your should city group be broken up? , a test doeth pressure? the market feels no pressure at all. off to the races with good news from europe right now we're up 111 points but look at the nasdaq charging ahead s&p 500 up more than 12. we have until. and we have the cfo. caterpillar and boeing joining at the top pushing the market higher this is a broad-based rally we have traders at the new york stock exchange and chicago mercantile exchange. yes the ceo was ousted but the broad-based raleigh, what are people talking about? >> how the averages just one week ago now the nasdaq broke through with the 50 day moving average and has ralli
trying to come into this -- into this city. and also ultimately trying to leave. new york's smaller airports, laguardia airport, which mainly serves domestic destinations, that remains closed due to flooding. newark liberty international airport reopens for limited service at 7:00 a.m. tomorrow. both good signs of life. a sign of life returning to normal but only beginning. small signs. 18 new yorkers we know have now lost their lives in this storm. 15 elsewhere. nearly 7 million are without power tonight, including about 750,000 here in new york. amazingly, no one died in the building you see behind me here. the entire facade of this building behind me collapsed. we're in a neighborhood called chelsea, really on the border of chelsea and greenwich village. but the picture says a lot. take a look at that. the entire facade of the building, which was being used frankly as an illegal hotel, mostly for overseas visitors, the entire facade is gone. the four rooms tell the story of this storm in minute chur. thankfully, we understand, nobody was killed in there. it could have been much w
across the city has been paralyzed. the subway system could be shut down for days, to the carolinas, new england and beyond, cnn is covering the aftermath of this storm and taking a look at where it's going next like no other network can. it is tuesday, october 30th. special coverage of superstorm sandy begins right now. >>> welcome back, everybody. lots to update you on this morning early before the sun comes up, lots of damage to talk about from last night. the walloping that new york's gotten from superstorm sandy. let's talk about the fires that are burning in breezy point queens. two dozen homes are actively on fire. 200 firefighters are on location there. they are trying to battle the fire. the fire started from downed power lines. you're looking at some of the latest pictures coming in to us this morning. downed power liens started this fire. the big problem for the firefighters, a lack of water appreciate your. 50 homes have burned to the ground. two dozen more are in the process of burning. we are following the story for you as the day continues. we'll have more information on t
hours to prepare. the entire new york city transit system is shut down. schools closed along with those in baltimore, boston, washington, d.c. thousands have canceled flights and commuter trains going nowhere. there's eight days until the presidential election. president obama and mitt romney being forced to change plans as the storm approaches. more on that in just a moment. first, lets ae go right to bill karins for the very latest on this hurricane. bill . >>> good morning to you, willie. new update from the national hurricane center. there was zero good news spread by them. the storm has increased in intensity a little bit. now we're looking at possibly 80 to 90 mile per hour landfall. maybe the storm surge could be a little bit worse. this is not what anyone wanted to hear. the winds are now the up to 85 miles per hour. that's a healthy hurricane. for this time of year it's ridiculous. you don't get these this far north this time of year. it's moving to the north at 15. now only about 350 to 400 miles away from new york city. here's the new forecast path. they shifted it just a lit
million have lost power. good morning. i'm chris jansing live in new york city. lower manhattan has taken a heavy blow from this storm. the financial district and ground zero were flooded. subway tunnels have also been inundated. the transit authority says this is the worst flooding in the subway's 108-year history. in the rockaways, a fire destroyed at least 50 homes. that's 5-0. in new jersey, atlantic city was largely submerged and cutting it off from the mainland. up and down the new jersey coast, communities are seeing significant flooding. downto downtown hoboken and jersey city seeing water in the streets. we talked to the mayor and she said perhaps 50% of that city is underwater. some shoreline residents in connecticut are stranded in their homes and the national guard has been called out to rescue them. the storm damaged property from stonington to greenwich. in delaware, the storm wiped out beaches in several communities and rehoboth beach and dewey beach, thousands of people were evacuated from wilmington and delaware city. now one final word, there is some word that the potoma
york city hospital. the staff at nyu langone medical center was forced to evacuate hundreds of patients overnight including infants from the neo natal intensive care unit after backup power failed. they are still evacuating patients as we speak. we'll get to more on that in a moment, but first, let's go straight to meteorologist bill karins for the very latest. bill? >> good morning to you guys. and it's just starting to settle in. and once these pictures come in, it's just going to be incredible. the kind of damage that sandy created. over my shoulder here, you're looking at one of the strongest storms to go through the mid-atlantic region and caused the most destruction of our lifetime. this has never happened for a storm like this in the jersey shore of this intensity. lowest pressure readings ever in philadelphia and atlantic city, new jersey, and the storm surge, the highest ever measured in areas like new york city. that is so rare. and the effects we're just beginning to realize. and wait until we find out how long it's going to take for the new york subway to get running again.
this i-report of the flooding in that town. parts of that city are still under water right now. and as you can see from this next picture, which was just sent to us by one of the senators from new jersey, bob menendez, it's just pretty incredible. and you see the water and the flooding. and it hasn't receded like it did in some places. in queens, new york, a storm-related fire burned through an entire neighborhood, destroying 80 homes. and today i went out there. we drove to see the destruction for ourselves, and we saw emergency vehicles everywhere. and i'm not talking, everyone, just about fire trucks and a few ambulances. at one point on the way to breezy point, new york, which is where this happened, we passed a convoy of 19 ambulances. 19 ambulances. all heading in to help that tight knit community, which was hit with flooding and then fire. deb feyerick is still out there tonight. and deb, i know it is a chaotic scene. thank you tell us what's happening right now? >> reporter: yeah, well, you know what's interesting? think about it, erin. 24 hours ago, that's the point wh
's a scaffold around an art project. new york city is full of scaffolding like that. things that we are watching today. want to head it over now to "cnn newsroom." newsroom." they're up next. -- captions by vitac -- www.vitac.com >>> good morning to you. i sure hope you're keeping dry somewhere. i'm carol costello. thank you so much for being with us. we begin this morning with hurricane sandy, within hours expected to explode into this superstorm. most of us have never season anything like it in our lifetime. already huge, tropical storm force winds spanning a width of nearly 1,000 mimes. it's aiming at the heart of the east coast, the most heavily populated corridor in the country. 50 million people are expected to feel the effects. hundreds of thousands are now under evacuation orders. fema predicts damage costs of about $3 billion just for wind damage alone. heavy rains or snow, storm surges, widespread flooding across the region depending upon where you live. we're also following a drama unfolding out to sea. a rescue is under way for the crew of the hms bounty, the ship built for the holly
growth. >> so is this going to be the theme when we get a new batch of earnings next week? we have city reporting on monday, then bank of america on tuesday, also goldman saks and more gag stanley reporting on the investment banking side. what do you think we're going to hear from those companies? >> okay, so it's the inand yang of banking in the world of quantitative easing. on the one side this interest-rate environment is tough. the spread between deposits and loans narrowing. on the other hand there's pretty good activity, housing is picking up, credit is getting better. as we look at the bank earnings we have to differentiate who is hit by that net interest margin issue and who can benefit on the other side. we look at citi and think they can report a good monday on positive-- monday so that could be positive. on the other hand bank of america facing pressures from the deposit versus lending squeeze. >> you told me citi was your top recommendation right now. tell us why? >> well, we look at citi and it's a bank that has not performed as well as some of those other tough ones like b
. >>> and crumbling city? what really happened in the between the bank ceo and chairman that led to pandit's departu departure, the surprising story is still ahead on "closing bell." >>> welcome back, 45 minutes left in today's trading session. the market is higher, dow industrials trying to avoid a third down day. we've got a pretty good move on the upside of 38 points and industrial average, disappoint of earnings putting drag on sent. this morning as it has for much of the week. technology stocks among the gainers, off of earlier lows when the tech index went into correction territory. financial under pressure with the market up broadly speaking. >> 45 minutes left. our next guest told officials fz treasury and fed to stop using libor, the interest rate in order to protect the taxpayers who fund the t.a.r.p. program and using it as a bis sasis to charge interest on loans. >> t.a.r.p. started in 2008, the government still owns a piece of nearly 300 banks. the government has been paying back taxpayers by selling shares at banks, often at an discount. the libor can be rigged. joining us now, christy
in new york city. this is something that will free up more federal funds for people here in long island and in new york city and we will have more on that in just a moment. also coming up in the next half hour, we have delaware governor jack markell. we'll get his assessment of the damage to his state and dennis gartman will talk energy and commodity trading. >> lots of damage to report in the new york city area, more than 50 homes were destroyed by fire last night in breezy point queens. just east of cone any islands, more than 170 firefighters were on the scene. and separately more than 200 patients were evacuated last night from new york university's medical center after power went out. patients some on respirators operating on battery power were taken to other hospitals. and check this video out. a crane on this luxury high rise building, that's under construction, topping over on 57th street, the 90 story building looks over central park. luxury apartments telling for tens of millions of dollars. the crane could be seen blowing in the wind for most of the night and officials there
says the city subway system is facing the biggest disaster in its history, including flooded tunnels and power outages. a short time ago, we heard from new york mayor michael bloomberg. >> make mo no mistake, this is a d devastating storm, first ever experienced. first responders heroic job. they are conduct life saving search and rescue missions and we owe them an enormous debt and gratitude. >> new jersey, a natural berm, levee, near the town as given way, on the new jersey side next to teeterboro airport and several nearby communities including little ferry under water. >> we've dispatched state and federally supported teams to assist in rescues and providing shelters to those in need. >> maggie lake has made her way there, at a shelter. talk about what you have seen. you've just arrived. how big is this facing that the the most coordinated not only bergen county officials, but the national guard, state police. people pouring in all morning being rescued from the area. i want to turn to a relative waiting for some of his people, family, trapped in that area, he didn't live there b
after city's earnings beat expectations at a conference call where not a word said about this. what a surprise. melissa: not too hot and not too cold. is the pressure on president obama to deliver just right at the presidential debate? neil cavuto joins us live in minutes and later who will win? melissa: lori: the u.s. handing out financial assistance. a a shocking new report on the government's wasteful spending. melissa: those rub us a wrong way but it is time to check stocks. let's go to the stock exchange. nicole petallides standing by and marketing rally mode. city one of the big movers of the day. nicole: from earnings to the economy and vikram pandit, quick resignation, many say he was right out of citigroup by the board and chief operating officer went along with it. major market average, the dow is up 118 points, that is a gain of 0.9%. and the nasdaq is up 1% up 32 points. tech is doing well. we are seeing gains across the board and we continue to follow citigroup closely. we came in and we hear that vikram pandit is no longer a basile effective immediately. this socked wa
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potential. we're going to see that again today. texas, dallas included here, up through oklahoma city. even kansas city and parts of far western illinois, western wisconsin. this whole region is in a slight risk for isolated tornadoes, that hail, and damaging winds. we'll be watching for that later this afternoon and evening. you want to catch your latest on the abc station near you. until then, i'll have more on the weather and the deep freeze coming up. back to dan. >> ron asked an important question, have you ever played ping-pong with the ball the size of hail? >> think about it. >> nothing to say here. >> by the way, dan, the pronunciation for dog in new york is dog. we're here in new york. >>> good morning, everyone. we begin with the arrests that have been made in connection with the shooting of the courageous pakistani girl that stood up to the taliban. four people have been arrested for the attack on malala yusefzai. she is in stable condition after being shot in the head and neck. >>> and two dozen people on a party boat in san francisco bay had a scare when the boat started sinki
of it there hits parts of new jersey. new york city going to have 60-mile-per-hour to 90-mile-per-hour winds. that's why you have storm surge concerns. this is important to focus in on. six to nine feet in that magenta color. you could have beach erosion, major waves. 10-foot to 20-foot waves, even. and finally, i have to leave you with the rainfall because the rainfall is so important. you've got some coastal flooding. and you add up to a foot locally in some places falling. so, washington, d.c., to even southern parts of new jersey, seeing that red bull's eye of 8 to 12 inches. it's not just rain, either. this whole thing is going to mix in with cold air. and that means, on the backside, it's snow. i'll talk more about that, coming up in the nation's weather. now, back to briana. >> all right, ginger. thank you. we'll see you in a few minutes. >>> meantime, this extremely dangerous superstorm has the potential to shut down new york and other major cities up and down the east coast. emergency officials are scrambling to make sure preparations are in place for whatever happens with this storm in t
cities in the next couple of days. so i hope that people are watching this and heeding those warnings because the winds, as sandy comes ashore, are going to be much stronger along the east coast than what i am feeling right now. back to you, jenna. >> julie, stay safe. julie martin, thank you very much. >>> now let's head about 400 miles off the east coast to asbury park, new jersey. al roker is there tracking sandy's every move. al, good morning. >> reporter: well, good morning to you, jenna. and of course asbury park the home of rock 'n' roll and bruce springsteen but this is different rock 'n' roll happening here as sandy makes its way onshore to the south of here. right now this is the latest on sandy. 260 miles south/southeast of cape hatteras, north carolina. it's 395 miles east of new york city. 75-mile-per-hour winds, northeast moving at 13 miles per hour. tropical force winds extend out 520 miles from the center of the storm, and that's going to be the big problem. as this system comes onshore it is certainly going to leave its mark. officials up and down the east coast are w
city struggling to recover. hundreds of thousands are still without power and a flooded subway system remains shut down. >>> more than 80 homes in that tight-knit neighborhood in queens in new york burned to the ground during the storm. amazingly, just three minor injuries there. >>> and president obama gets the firsthand look at the destruction today as he comes to new jersey. >>> the human toll from sandy, 33 people killed in the u.s., 6.5 million customers remain without power. the total cost of property damage and lost busiest mated betwe business is estimated at $10 to $20 billion. and that could be on the low end. good morning, i'm john berman. >> i'm zoraida sambolin. we have a field of reporters covering the aftermath of sandy from every angle. rob marciano in new york city. dan lothian and paul steinhouser standing by in washington, d.c. and richard quest is also out there for us. >> with 1/3 of the people in new york city, 2 million people here without power. transportation is at a virtual standstill at a few time where few people have cars, not to mention the property and d
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